Guideline Value for L- Block (East)- 6th Avenue l38, lig Flats 496, 496a, hig Flats 507, Mig Flats East, Chennai 102

L- Block (East)- 6th Avenue L38, LIG Flats 496, 496A, HIG Flats 507, MIG Flats East, Chennai 102 guideline value

The current guideline value for L- Block (East)- 6th Avenue L38, LIG Flats 496, 496A, HIG Flats 507, MIG Flats East, Chennai 102 is Rs 14,800 per sq.ft, effective from 1 July 2024. This property is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Mixed Special Type - I.

How the guideline value of L- Block (East)- 6th Avenue L38, LIG Flats 496, 496A, HIG Flats 507, MIG Flats East, Chennai 102 has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 11,000 per sq.ft. This increased to Rs 13,500 per sq.ft in 2012, marking a 23% rise. However, it then decreased to Rs 9,045 per sq.ft in 2017, representing a 33% drop. The value rebounded significantly in 2023 to Rs 13,500 per sq.ft, a 49% increase from the previous revision, and further rose to Rs 14,800 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 35%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO with a 2024 guideline value range from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, and the guideline value for L- Block (East)- 6th Avenue L38 is above this median.

• L- Block, (East)26th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)25th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)24th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)23rd Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)21st Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)20th Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in L- Block (East)- 6th Avenue L38, LIG Flats 496, 496A, HIG Flats 507, MIG Flats East, Chennai 102

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value amounts to Rs 1,48,00,000. The stamp duty at 7% would be Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, totaling Rs 13,32,000. Note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers L- Block (East)- 6th Avenue L38, LIG Flats 496, 496A, HIG Flats 507, MIG Flats East, Chennai 102?

The Sub Registrar Office that covers this area is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ayanavaram

The guideline value is a crucial factor during the registration of property transactions in Ayanavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the current government rates.

When a buyer or seller engages in a property transaction, the guideline value helps ensure transparency and compliance with the legal requirements. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for L- Block (East)- 6th Avenue L38?

The current guideline value for L- Block (East)- 6th Avenue L38, LIG Flats 496, 496A, HIG Flats 507, MIG Flats East, Chennai 102 is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,000 per sq.ft in 2007 to Rs 14,800 per sq.ft in 2024, with various revisions in between. The most significant increase was from Rs 9,045 per sq.ft in 2017 to Rs 13,500 per sq.ft in 2023.

What is the land classification for this property?

The land classification for L- Block (East)- 6th Avenue L38 is Mixed Special Type - I. This classification can impact the guideline value and property usage.

What is the role of the AnnaNagar SRO?

The AnnaNagar SRO is responsible for the registration of properties in the Ayanavaram area. It ensures that all property transactions comply with legal requirements and that the guideline values are properly applied during registration.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, at the current guideline value of Rs 14,800 per sq.ft, the stamp duty would be calculated accordingly during the registration process.